Fed Should Employ a Little Patience

By

Justin Lahart

Oct. 5, 2012 3:42 p.m. ET

To judge from Friday's read on the job market, the Federal Reserve could be eying the exit sooner than it expected.

While the 114,000 jobs the economy added in September was about what economists were looking for, revisions to July and August tacked an additional 86,000 onto the nation's job count. The bulk of the upward revisions were related to schoolteacher jobs, which suggests the drag from shrinking state and local government...